1. The conditions for liquidation of the company are as follows:
(1) has reasons for dissolution;
(2) A liquidation group shall be established within 0/5 days from the date of dissolution;
(3) Notifying creditors to declare their claims;
(4) Initiating liquidation procedures according to law;
(5) After the liquidation, the company shall cancel its registration.
2. Legal basis: Article 107 of the Enterprise Bankruptcy Law of the People's Republic of China
If the people's court declares the debtor bankrupt according to the provisions of this law, it shall serve it on the debtor and the administrator within five days from the date of ruling, notify the known creditors within ten days from the date of ruling and make a public announcement. After the debtor is declared bankrupt, the debtor is called bankruptcy, the debtor's property is called bankruptcy property, and the creditor's rights enjoyed by the people's court when accepting the bankruptcy application are called bankruptcy claims.
2. What are the detailed procedures for company liquidation and cancellation?
1. Establish a liquidation group. The liquidation group of a limited liability company is composed of shareholders, and the liquidation group of a joint stock limited company is composed of directors or personnel determined by the shareholders' meeting;
2. After clearing the company's property, preparing the balance sheet and property list, the liquidation group shall formulate the liquidation plan;
3. Prepare a liquidation report and submit it to the shareholders' meeting, the shareholders' meeting or the people's court for confirmation;
4. Cancel the registration and make an announcement.